Robert Hall and Michael Woodford awarded 2026 Nobel Prize in Economics

On October 12, 2026, the Royal Swedish Academy of Sciences announced that the Nobel Prize in Economic Sciences has been awarded to Robert E. Hall and Michael Woodford. The laureates were recognized for their foundational contributions to the microeconomic foundations of macroeconomic stabilization.

The award, formally titled the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968 by Sweden's central bank. While some traditionalists note that the Economics prize was not part of the original Nobel awards established by Alfred Nobel in the 19th century, it is now presented annually as part of the Nobel recognition system.

The 2026 recognition builds on the long history of the prize, which honors significant advancements in economic research. Last year, the prize was awarded to three researchers for their work on business innovation, demonstrating how new products drive economic growth. The selection of Hall and Woodford underscores the ongoing focus on stabilizing macroeconomic frameworks through rigorous scientific analysis.